Mumbai: State Bank of India (SBI) on Friday signed an MoU with Japan Bank for International Cooperation (JBIC) to help Japanese small companies to do business in Mumbai.

Regional banks from Japan do not have a presence in India but SMEs from that country operating here or planning to enter the market here need to avail of financial services and "this MOU would assist JSMEs (Japanese small and medium enterprises) to meet their financial requirements from SBI",SBI, the country's largest bank, said in a statement.

JBIC has been mandated by the Japanese government to coordinate with regard to the needs of JSMEs.

The MoU was signed by SBI Managing Director and Group Executive (International Banking) Hemant Contractor and Managing Executive Officer of JBIC, Kazuo Yuhara.